Thursday, June 20, 2019

Pollack Shores Plans Second Apartment Community in Cumberland submarket after home run at The Battery Atlanta

Steven Shores
ATLANTA, GA – Multifamily developer and investment firm Pollack Shores Real Estate Group announced it closed on the land purchase for a new 281-unit apartment community in Atlanta, Georgia that will rise on the site of the former corporate headquarters for Genuine Parts Company.

The five-story development is located in the fast-growing Cumberland submarket on Herodian Way in between Circle 75 Parkway and Crescent Park Drive, and is within walking distance to The Battery Atlanta, the 1.5 million-square-foot mixed-use development anchored by SunTrust Park.

The announcement comes less than one year after Pollack Shores sold three luxury apartment communities the firm developed at The Battery Atlanta in partnership with the Atlanta Braves.

 The transaction was one of the highest recorded multifamily sales in metro Atlanta, and reflects the emergence of sports stadiums as new hubs for vibrant neighborhood development in markets across the country.

“The Genuine Parts site is a prime investment opportunity that capitalizes on growing demand for Class A product fueled by the success of The Battery Atlanta and exceptional job growth in Cumberland,” said Steven Shores, CEO and President of Pollack Shores Real Estate Group.

“We will draw on our past experience at The Battery Atlanta to create another innovative and walkable community that delivers a first-class experience for residents who seek an authentic live-work-play lifestyle in one of metro Atlanta’s most exciting locations.”

Brian Oates
Residents and office workers seek the walkable, 24/7 lifestyle and amenities these unique districts offer, with The Battery’s sports-anchored blueprint now being replicated by pro sports franchises in cities such as Los Angeles, Detroit, Miami and Nashville.

“Our first development was a one-minute walk to the ballpark. This new apartment community will be a 10-minute walk from The Battery – close enough for residents to enjoy all the action at The Battery yet far enough to unplug and partake in the array of resort-like amenities,” said Brian Oates, Managing Director of Development at Pollack Shores.

“It’s an optimal location for young professionals, and represents a culmination of the experiences we’ve had throughout the past eight years in developing Class A apartment communities.”


Nick Banaszak
The Wilbert Group
256-457-5384 (C)

Liz Maddux · Assistant Account Executive
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 478-972-3210

Levin Johnston Directs $16 Million Sale of 52-Unit Multifamily Community in Almeda, CA

Adam Levin
ALAMEDA, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the $15.95 million sale of Buena Vista Apartments, a 52-unit multifamily asset in Alameda, California.

Adam Levin, Executive Managing Director and Robert Johnston, Senior Managing Director of Levin Johnston, represented the seller, a private high net worth investor, in the transaction.

“Alameda is currently experiencing the fastest population growth in the region, making it a highly desirable investment market,” says Levin.

“The appeal of this asset is further substantiated by the city’s strong employment fundamentals and low vacancy levels – all factors that will drive high occupancy and a well-sustained renter base for years to come.

Robert Johnseton
"Drawing upon each of these strengths, our team was successful in attracting a strong pool of buyers for the property.”

Situated on 1.58 acres, Buena Vista Apartments is in close proximity to the $1 billion Alameda Point development project, which broke ground in 2018 and is expected to create more than 9,000 new jobs in the region.

“In addition to its proximity to this future waterfront development and job-generator, Buena Vista Apartments is already in a prime rental location for commuters, which contributes to the strength of the asset as an investment,” says Johnston, who notes that the property is just one mile from the Alameda Ferry Terminal, which provides direct access to San Francisco, home to major employers including Kaiser Permanente, Uber, Twitter, Lyft, Google and more.

Originally constructed in 1966 and renovated in 2018, the multifamily property consists of two parcels and offers an attractive mix of studios, one- and two-bedroom floor plans.

The newly renovated property includes on-site laundry, gated secure entrance, bike storage, barbeque and picnic areas, as well as additional storage units for tenant use.

Located at 4330-450 Buena Vista Avenue in Alameda, California, the property is in close proximity to major employers, transportation corridors, shopping, dining and entertainment options.


Alex Caswell / Jenn Quader 
Brower Group
(949) 438-6262

George Oliver Adds Partner, Hires Lead Architect as Market Footprint Expands

George Jerkovich
PHOENIX, AZ, June 20, 2019 – Phoenix-based commercial real estate investment and operating company George Oliver has hired Charles Jerkovich as a company Partner and Jay Sciarani as Lead Architect for George Oliver Design.

The additions will allow George Oliver to grow and scale its business through new and innovative project opportunities.

In his new role, Jerkovich oversees portfolio management for all existing George Oliver assets and assists with sourcing, evaluating, underwriting and executing new development and investment opportunities.

Jerkovich brings with him almost a decade of experience in asset management, acquisitions and real estate investments.

Jay Sciarani
 Sciarani fills an essential role on the creative side of George Oliver, managing the design and implementation of repositioning strategies through George Oliver Design. Jay brings more than a decade of experience in construction and commercial architecture.

 “The addition of Charles and Jay come at a crucial time for George Oliver as we focus on growing our modernized office strategy through the acquisition and redevelopment of new opportunities,” said George Oliver founder and Managing Partner Curt Kremer.

 “Phoenix is evolving as an exceptionally creative office market where companies and employees want unique workplace environments. Having Charles and Jay in their new roles strengthens our ability to identify and respond to these types of demands with even greater efficiency and innovation.”

 George Oliver is currently redeveloping CASA, a $17 million renovation project that is re-establishing a 1989-built traditional office building into next-generation, modernized Class A office space focused on a strong sense of community, health and wellness.

Curt Kremer
CASA is located in Phoenix’s booming Uptown neighborhood. Other successful project partnerships by George Oliver include The Quad in Scottsdale, Junction 23 in Denver’s RiNo arts district and Upcycle in Austin’s trendy Eastside submarket.

 Jerkovich holds a bachelor’s degree in Finance from the University of Iowa. He is a member of ULI and NAIOP. 

Sciarani holds a bachelor’s degree in Architecture from the University of Nevada Las Vegas and a master’s in Architecture from Arizona State University. He is a member of the AIA and NCARB.

About George Oliver 

George Oliver LLC is a Phoenix-based, privately owned commercial real estate investment and operating company specializing in transforming obsolete buildings and business parks into institutional-quality, modernized office communities. 


Stacey Hershauer

HFF closes sale of luxury apartment community in Louisville, KY

Amanda Friant
Wick Kirby
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hurstbourne Estates, a 270-home, luxury, garden-style apartment community located in the East End of Louisville, Kentucky.

HFF marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, Peak Capital Partners.

Hurstbourne Estates is located at 10405 Watermark Place with easy access to downtown Louisville and a multitude of demand drivers, including Churchill Downs, Louisville Slugger Field, Kentucky International Convention Center, University of Louisville and the KFC Yum! Center.

Completed in 2014, the 17-building property comprises a mix of one-, two- and three-bedroom floor plans that average 1,059 square feet. 

Sean Fogarty
Units feature granite counters, Shaker-style espresso cabinets, energy-efficient appliances, wood-style flooring, crown molding, in-unit washers and dryers, patios or balconies, open layouts and oversized closets with built-in shelving. 

Select homes also provide private entrances and direct-access attached garages.  

Community amenities include manicured courtyards and walking paths, controlled access, a business center, resort-style swimming pool and sundeck, expansive fitness center, dog park, modern club house, community kitchen, recreation room with billiards table and barbeque and picnic areas. 

The community was 94% occupied at closing.

The HFF investment advisory team included senior director Wick Kirby, managing director Sean Fogarty, director Kevin Girard and associate Amanda Friant along with managing director Marty O’Connell, a licensed Kentucky real estate broker.

Kevin Girard
About Inland Real Estate Group of Companies, Inc.

With a business track record spanning five decades, The Inland Real Estate Group of Companies, Inc., is an industry leader and one of the nation’s largest commercial real estate and finance organizations.  

As a business incubator, Inland specializes in creating, developing and supporting Inland member companies that provide commercial real estate-related services and alternative investment funds, including limited partnerships, institutional funds and non-listed and listed REITs, and investment advice through a registered investment advisor.

The companies that are members of The Inland Real Estate Group of Companies, Inc., which is headquartered in Oak Brook, Illinois, cumulatively employ more than 1,000 people nationwide.  

Marty O'Connell
Inland member companies have owned and managed hundreds of millions of square feet of various commercial property types in 49 states. 

“Inland” refers to some or all of the entities that are part of The Inland Real Estate Group of Companies, Inc. which is comprised of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by Inland Real Estate Investment Corporation or its subsidiaries.

About Peak Capital Partners

Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States.  Founded in 2007, the firm owns more than 20,000 apartment units representing more than $2 billion in value. 


HFF Senior Director
(312) 980-3611

KY Lic. #68521
HFF Managing Director
(312) 528-3653

HFF Public Relations Specialist
(713) 852-3403

HFF secures acquisition financing for Bradford Mills Lofts in Louisville, KY

Cortney Cole

HOUSTON, TX, June 20, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured acquisition financing for Bradford Mills Lofts, a 146-unit apartment community in Louisville, Kentucky.

HFF worked exclusively on behalf of the borrower, Venterra Realty, to arrange the seven-year, fixed-rate loan with interest-only payments through Freddie Mac. The loan will be serviced by HFF, a Freddie Mac Optigo℠ lender for Conventional Loans.

Bradford Mills Lofts is located at 1124 Reutlinger Avenue between downtown and the University of Louisville in the Germantown area.  The property consists of two historic textile mill buildings that were converted into loft-style residential in 2017. 

Bradford Mills Lofts, 1124 Reutlinger Avenue between downtown and the University of Louisville, Germantown area, Louisville, KY

Units include one- and two-bedroom floor plans featuring stainless-steel appliances, granite countertops, espresso-stained cabinetry, original hardwood flooring, exposed ductwork, walk-in closets, and in-unit washers and dryers. 

The community also includes a swimming pool, 24-hour fitness center, resident clubroom, outdoor social space and bark park.

The HFF debt placement team representing Venterra was led by managing director Cortney Cole.


HFF Managing Director
(713) 852-3500

HFF Public Relations Specialist
(713) 852-3403

HFF arranges financing for mixed-use development in San Diego’s Scripps Ranch

Olga Walsh
SAN DIEGO, CA –– HFF announces it has arranged financing for the development of Carroll Canyon, a luxury residential and retail mixed-use development in San Diego’s affluent Scripps Ranch community.

HFF worked on behalf of Sudberry Properties to arrange a construction loan through a commercial bank.  Additionally, HFF secured mezzanine financing from a correspondent life company lender.

Carroll Canyon will consist of 260 apartment units and approximately 10,700 square feet of retail space that will be leased to a mix of national and regional retailers. 

The property sits at the northeast corner of the intersection of Interstate 15 and Carroll Canyon Road in the heart of Scripps Ranch, a centralized suburban location less than 30 minutes from beaches, North County San Diego and the San Diego International Airport. 

The residential component will feature high-end units averaging 908 square feet and common area amenities, including a community lounge, fitness center, spa, in-unit laundry rooms along with a mix of garage, carport and open stalls for parking.
Aldon Cole
The project is due for completion in second quarter 2021.

The HFF debt placement team representing the borrower was led by senior managing director Aldon Cole and director Olga Walsh.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.


CA Lic. #01457351
HFF Senior Managing Director
(858) 552-7690

CA Lic. #02052171
HFF Director
(858) 552-7690

HFF Public Relations Specialist
(713) 852-3403